Liability meaning in English

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Definition

a liability (legal or financial term): a responsibility (legal or financial term) noun
We deny all liability for any damages incurred. We refuse to accept any responsibility for this matter.

UK: Her drinking problem is a real liability.
US: He has several financial liabilities including debts and an unsuccessful restaurant business.

Examples

  • "Bodily injury liability"
  • "Plus we'd have to sign waivers and liability forms, probably have to get malaria shots for Ms. Bümbüm and her entourage...it will be a logistical nightmare!"
  • "Property damage liability"
Exercise 1
Bruno says that the company would have to sign "waivers" and "liability forms". Which of the following situations would most likely require "waivers" and "liability forms"?
Bruno says that the company would have to sign "waivers" and "liability forms". Which of the following situations would most likely require "waivers" and "liability forms"?
"Waivers" and "liability forms" are documents which require that one cedes certain rights before a procedure or action in which there is risk involved. Waivers are often signed in contracts, before medical procedures, and especially for insurance purposes.
Because registering to vote does not pose any immediate risk, "waivers" and "liability forms" would not be used.
Because a board meeting does not pose any immediate risk and is not a contracted event, "waivers" and "liability forms" would not be used.
Purchasing an automobile requires a lot of paper work, but waivers are not usually signed simply to purchase a new car.

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